Tesco Stores (Malaysia) Sdn Bhd and NE Suria Satu Sdn Bhd (NESS) have entered into the largest long-term power purchase agreement (PPA) for solar energy in Malaysia.

NESS is a collaboration between Petronas through its New Energy business unit and NEFIN Group, a regional bespoke solar developer and asset management group.

In a joint statement today, Tesco Malaysia and NESS said the first phase of the PPA would see the installation of solar photovoltaic (PV) panels on the rooftop spaces of 15 Tesco stores nationwide.

The PPA will run for 20 years until 2040.

"Once the installation is completed in October 2020, the solar PV panels will collectively generate about 18 gigawatt hours (GWh) of clean energy per year, thus reducing approximately 13,624 tonnes of carbon emissions into the atmosphere.”

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New Straits Times